Ghana’s Per Capita Income Hits Record $3,385 as Nearly One Million People Escape Poverty – Finance Minister

Ghana’s Minister of Finance, Dr Cassiel Ato Forson, has announced that the country’s per capita income recorded a historic increase in 2025, rising by more than $850 in just one year as unemployment and multidimensional poverty declined significantly.

Speaking while presenting the country’s economic update to Parliament, Dr Forson said Ghana’s per capita income increased from $2,527 in 2024 to $3,385 by the end of 2025, describing it as the highest ever recorded in the nation’s history.

According to the Finance Minister, the achievement has also positioned Ghana as the eighth-largest economy in Africa, reflecting the country’s improving economic performance.

“Mr. Speaker, Ghana’s per capita income increased by more than $850 in just one year, rising from $2,527 in 2024 to $3,385 at the end of 2025. This is the highest per capita income ever recorded in our country’s history,” Dr Forson said.

“It is therefore not surprising that Ghana is now recognized as the eighth-largest economy in Africa.”

He emphasized that the figures represent real improvements in the lives of Ghanaians rather than mere economic statistics.

“These are not mere statistics. They represent higher incomes, stronger businesses, greater opportunities, and an economy with an enhanced capacity to invest in its people,” he added.

Dr Forson also highlighted improvements in Ghana’s labour market, revealing that the unemployment rate declined from 13.7 percent during the first three quarters of 2024 to 12.8 percent over the same period in 2025.

According to him, the country also recorded a notable reduction in multidimensional poverty, which measures deprivation across living conditions, education, healthcare and employment.

The multidimensional poverty rate fell from 24.9 percent in the third quarter of 2024 to 21.9 percent in the third quarter of 2025.

He said the improvement means that approximately 950,000 Ghanaians moved out of multidimensional poverty within a single year.

“Behind these statistics are the hundreds of thousands of families who now enjoy better living conditions and greater hope for the future,” the Finance Minister told lawmakers.

The latest economic figures come as Ghana continues implementing reforms aimed at strengthening fiscal stability, attracting investment and improving living standards after years of economic challenges.

The government maintains that prudent economic management and ongoing reforms have begun yielding positive results, with improvements reflected in income levels, employment and poverty reduction.

The announcement is expected to reinforce confidence in Ghana’s economic recovery and may serve as a benchmark for other African countries pursuing similar fiscal and structural reforms.